MMK Groupís Net Profit Up 24.7%

UrBC, Magnitogorsk, August 3, 2018. Magnitogorsk Iron & Steel Works/MMK Groupís net profit (calculated in accordance with the IAS) amounted to $671m in the first half of the year, which exceeded the figures for one year earlier by 24.7%, the financial report on MMK Groupís website states.

The Groupís revenues rose by 16% in January-June 2018 compared with one year earlier and reached $4.161bn. According to MMK analysts, the increase has to do with growing sales (+2.1%) as well as bigger average sale prices.

The companyís EBITDA came to $1.21bn in the first half of 2018, which exceeded the figures for one year previously by 33.4%.

As for QIIí18, MMK Groupís profit went up by 40.5% against the previous quarter and reached $392m. Revenues rose by 2.5% and reached $2.106bn. Its EBITDA came to $650m (up 16.1% on the previous quarter).